Cloud service provider secures £10m BGF investment

Dec 26, 2016 · bdaily.co.uk

Screen shot 2016 12 25 at 21.43.12

Hotly tipped London-based cloud and connectivity service provider, Virtual1, has secured a £10m investment from the British Growth Fund (BGF).

The firm, which delivers cloud and connectivity services to the wholesale market, has featured in the Sunday Times Tech Track 100 for the last three years and is currently generating revenues of around £18m a year.

Founded in 2007 by Tom O’Hagan, the business has built up its own London-based network which it combines with networks of other carriers to provide a single, scalable cloud platform.

According to the company, the funding will be used to invest in additional network infrastructure and fuel its long-term growth plans.

Tom O’Hagan said: "The funding provided by BGF allows us to accelerate our expansion strategy whilst retaining control of the business.

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